Companies buying for future growth signals bullish outlook
Phoenix, August 7, 2017 – Two East Valley businesses recently purchased office condominiums with an eye for future growth. Colliers International in Greater Phoenix sold condominiums in Chandler Gateway Office Park and Pointe Office Suites to the expanding users.
“The companies each bought sizable suites with immediate plans to lease out extra space that later will accommodate their planned growth,” said Phil Wurth, executive vice president of Colliers International in Greater Phoenix. “This signals a bullish economic outlook from small and mid-sized companies.”
222 West Pointe, LLC, an Arizona limited liability company, acquired the Pointe Office Suites at 2221 W. Baseline Road in Tempe. The company plans to operate a real estate investment company from the suites, in addition to managing the executive suites business. As the company grows, it will expand into more of the 4,839-square-foot space. Constructed in 2003, the building was purchased for $832,308. Wurth represented the landlord, Bedford Falls Property Management, LLC in the transaction. Sean Lieb of Cushman & Wakefield represented the buyer.
SFH IV, LLC, purchased an office condominium at 4015 W. Chandler Boulevard in Chandler. The limited liability corporation was formed by Sprowles CPA firm as part of the company’s plans for future growth. Built in 2007, the office condominium was sold for $825,000. The buyer will lease a portion of the 4,998 to another tenant and expand into more space as the accounting firm grows. Wurth was the sole broker involved in this transaction.
About Colliers International Group
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
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Colliers International in Greater Phoenix has served clients locally and globally for more than 35 years.